Bimini Capital Management, Inc.
Bimini Capital Management (formerly Opteum) invests in residential mortgage-backed securities and related securities issued by the likes of Fannie Mae, Freddie Mac, and Ginnie Mae. The real estate investment trust (REIT) manages a portfolio worth more than $100 million, mainly consisting of mortgage-related securities backed by adjustable-rate mortgages. Bimini Capital also invests in fixed-rate mortgage-backed securities and inverse interest-only securities. The company sold its residential mortgage origination business, which consisted of about 25 offices in five states, to Prospect Mortgage in 2007. It also ceased conduit and wholesale lending.
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